Contact Energy Limited · NZX:CEN
Contact Energy — UBS Australasia Conference November 2023
9 slides from Contact Energy's conference presentation, November 2023
Slide 1: Geothermal Commissioning Update
Geothermal Commissioning Update UBS Australasia Conference November 2023 1
Slide 2: Disclaimer and important information
Disclaimer and important information While all reasonable care has been taken in compiling this presentation, EBITDAF, free cash flow and operating free cash flow are financial measures that are “non-GAAP (generally neither Contact nor any of its directors, employees, shareholders nor any accepted a
Slide 3: Geothermal commissioning update
Geothermal commissioning update Includes revisions to expected timing and capacity for Tauhara online » Tauhara is a world-class geothermal development to build a multi-generational 174MW renewable baseload powerplant. » Hot commissioning of the steam-field commenced in July 2023. » Commissioning is
Slide 4: Geothermal plants under construction
Geothermal plants under construction Contact currently has $1.2bn of geothermal projects under construction1 Project progress Tauhara Te Huka 3 Planned % Planned % Actual Actual Forecast Forecast Commercial operation Commercial operation October ‘23 98% October ‘23 construction 66% construction Tota
Slide 5: Recap on key project delivery roles
Recap on key project delivery roles Geothermal developments are complex – Contact directly manages those project elements where it has deep expertise and works through expert partners as appropriate to manage risks Engineering Procurement Construction Management Tauhara & others Wells & Resource & o
Slide 6: Geothermal commissioning
Geothermal commissioning While commissioning challenges are common, especially with steam turbines, there are a range of mitigations available Te Mihi (2014) Challenges faced Mitigation » Commissioning issues identified and mitigated Cold commissioning – Lube oil flushing Various mitigations includi
Slide 7: Typical commissioning stages and sequencing
Typical commissioning stages and sequencing The commissioning process is designed to test all functions of the geothermal well operations, steam field and power station under a range of conditions, including extreme emergency simulations Steam-field High Voltage Power Station Steam-field Power Stati
Slide 8: Early plant life: Typical features
Early plant life: Typical features The early years after on-line date are characterised by a number of common features across geothermal plants Ramp up to Initial major target output outages » Plant can often be commissioned below long- » Necessary after 12 months of operation, and term output targe
Slide 9: Contact expects to deliver near term uplift in renewable generation and EBITDAF
Contact expects to deliver near term uplift in renewable generation and EBITDAF Further substitution of baseload gas generation for low cost geothermal to drive EBITDAF margin uplift Renewable generation – Annual output (TWh) EBITDAF Guidance vs Actual ($m)3 (Exit run-rate illustration) 10.9 10.3TWh
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